Betano To Continue Sponsorship of Brazil’s Fluminense Soccer Club
Posted on: July 28, 2022, 09:39h.
Last updated on: July 28, 2022, 12:09h.
Sports betting sponsorships continue to be prevalent in Brazil, despite the lack of progress on betting legalization. Thus, soccer club Fluminense will continue to act as the partner of sports betting and iGaming operator Betano for a few more years.
Fluminense has agreed to renew the contract with the Kaizen Gaming-owned Betano, which will continue as the club’s master sponsor. The extension will take the partnership through the end of 2025, whereas the previous contract was valid until 2023.
The first contract gave the club about R$15 million (US$2.88 million) for the two years from June 2021 to June 2023. The renewal will alter the financial commitment, but Fluminense didn’t provide the new details.
Renewal Born From Urgency
As with most sponsorships, Betano hopes to receive significant brand recognition in return for its investment. In addition to appearing on the shirts, the company will continue to have a place in all of the club’s physical and digital advertising channels.
Before Betano, Fluminense, which competes in Brazil’s first-tier league Campeonato Brasileiro Série A, went three years without a front-of-shirt sponsor. Valle Express was the last brand to occupy the space, which was only there from January to August 2018. However, the club severed its partnership because the financial services company quit making payments.
Fluminense also suffered from default problems with another sponsor, Viton 44. The board’s goal at the time was to seek something around R$10 million to R$12 million (US$1.9 million to $2.3 million). At the time, the club was desperate for the funds to cover its players’ salaries.
This renewal may be important for Fluminense for similar reasons. The club, once again, has not cleared its payroll, owing for May. This could explain why the two sides agreed to extend the partnership far before the original expiration date.
In the original agreement, Betano, which also sponsors Clube Atletico Mineiro, displaced betting operator Betmotion. The company appeared as a secondary sponsor, but had to go, since for contractual reasons, both sponsorships could not coexist.
Betmotion asserted that it made the unilateral decision to withdraw its sponsorship, despite those claims. Moreover, it added that its exit had nothing to do with the new arrangement.
Solidifying Its Global Footprint
The future of the betting landscape in Brazil may force the partnership to change course. Other countries without legal sports betting, such as Chile, are working to ban sports betting ads and sponsorships. A similar situation may arise in Brazil if it doesn’t legalize the activity.
However, Betano is finding success elsewhere at the same time. It recently entered the Czech market during the first half of 2022. It is banking on Kaizen’s portfolio, which includes Germany, Portugal, Romania, and Bulgaria. In addition, it started in Greece and Cyprus under the local name Stoiximan.
Kaizen, and as a result, Betano, has several key gaming partnerships. For example, this past May, it expanded its ongoing relationship with Inspired Entertainment to include virtual events for Betano. That same month, Betano sealed a deal to convert the country’s Romanian Cup soccer competition to the Betano Romanian Cup.
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